(TheNewswire)
Toronto, Ontario – TheNewswire - February 10, 2022 - NewOrigin Gold Corp.(TSXV:NEWO) (OTC:TROIF) announces results from its 2021 diamond drill programat its 100% owned North Abitibi Gold Project. Atotal 1,875 metres (“m”) were completed andall assay results from initially sampled core intervals have now beenreceived. The drill program consisted of 4 holestesting Induced Polarization (“IP”) targets at depth in threeseparate zones where prior drilling was limited to approximately 150mvertical depth. Single drill holes were completed in the Road and East Central Zones and two holes completed in theSpade Lake Zone to a maximum length of 531m down hole .
Drill holes completed in the Road and East CentralZones returned gold in quartz veins up to 223.6mdown hole where the IP anomalies at depth intercepted pyritic zoneswith little to no gold values. The final two drill holes testing IPanomalies at depth in the Spade Lake Zone both intercepted broad zonesof anomalous gold mineralization.
“NewOrigin’s drill program at North Abitibisuccessfully intercepted IP anomalies at depth while the Road and EastCentral Zones identified new quartz and stringer mineralization with5.29 g/t gold over 0.75m in NA-21-01 at an estimated vertical depthfrom surface of 150m. The Spade Lake Zone returned two broad zones ofanomalous gold up to 39m in drill length that warrant furtherinvestigation. NewOrigin is constructing a 3D sectional interpretationfor the Spade Lake Zone to better understand how these new deeperbroad anomalous gold intercepts relate to shallower historic goldintercepts to support the design of a future drill program.” commented David Farquharson, President ofNewOrigin Gold.
Table 1: 2021 North Abitibi drillresults
Hole ID | Zone | From | To | Length (m) | Au (g/t) |
NA-21-01 | Road | 196.30 | 204.10 | 7.80 | 0.97 |
including | 202.15 | 202.90 | 0.75 | 5.29 | |
NA-21-02 | East Central | 221.05 | 223.60 | 2.55 | 0.36 |
NA-21-03 | Spade Lake | 495.30 | 515.70 | 20.40 | 0.18 |
including | 502.50 | 503.70 | 1.20 | 0.36 | |
including | 507.40 | 508.90 | 1.50 | 0.38 | |
NA-21-04 | Spade Lake | 365.00 | 404.00 | 39.00 | 0.18 |
including | 385.00 | 389.00 | 4.00 | 0.38 | |
including | 403.00 | 404.00 | 1.00 | 1.17 |
*Represents core length. True mineralization widthsrange between 85 - 90% of reported intervals, determined by currentand historic drill results. Mineralized zones vary in strike between260 to 280 degrees and are estimated to dip approximately 50 to 60degrees to the north.
Table 2: 2021 drill collar locations(UTM zone 17N, NAD83)
Hole ID | Zone | Easting | Northing | Azimuth | Dip | Length (m) |
NA-21-01 | Road | 576550 | 5482550 | 175 | -60 | 510 |
NA-21-02 | East Central | 580667 | 5482710 | 160 | -55 | 315 |
NA-21-03 | Spade Lake | 578050 | 5483520 | 175 | -70 | 519 |
NA-21-04 | Spade Lake | 577525 | 5283510 | 175 | -65 | 531 |
Figure 1: Plan map showing locationof 2021 drill holes with intercepts
NewOrigin is likewise evaluating the detailedgeological and trace element geochemical data received from thisdrilling to identify any additional relationships to goldmineralization that may serve as potential vectors to higher gradeportions of the gold system meriting further investigation.
About the North Abitibi Project
The North Abitibi Gold Project is a 10 kilometre longproperty that covers approximately 4,240 hectares in Canada’sprolific Abitibi Greenstone Belt, where over 200 million ounces ofgold have been discovered and produced. The Property straddles theCasa Berardi Break approximately 40 kilometres west of Hecla MiningCorp.’s Casa Berardi Mine. In 2021 NewOrigin increased its land position in the Casa Berardi trend by acquiringthe 17,750 hectare Kinebik Gold Project. The project is 100% owned byNewOrigin.
The majority of drilling at North Abitibi was conductedby Newmont and Cogema Canada during the 1980’s following thediscovery of the Casa Berardi gold deposit. Extensive overburden coverlimited the effectiveness of exploration campaigns. Following a longperiod of dormancy, Tri Origin Exploration (now NewOrigin Gold) hasnow completed geophysical surveying and 5diamond drilling campaigns totaling 17,883 metres to explore theproperty-wide gold occurrences. Exploration drilling has now tracedgold mineralization for almost 4 kilometres of collective strikelength and extending to depths ranging from 150to 300 metres vertical depth from surface. Zones identified to dateinclude assayed intervals ranging from 6.1 g/t gold over 6.0m and 17.8g/t gold over 1.6m. These higher grade “pulses” occur withinbroader zones of anomalous lower grade gold mineralization. Twenty-two(22) of the more than 100 drill holes completed on the property reportat least one sample of greater than 2.0 g/t gold across a minimum 1.0msample interval.
NewOrigin’s management recognizes the potential forthe discovery of a significant gold system within this extensivelymineralized property. NewOrigin plans to carry out further geophysicalprograms followed by diamond drilling in orderto continue to advance toward discovery at its 100% owned NorthernAbitibi Project.
Technicalinformation in this news release has been reviewed by Mr. MarkPetersen, P. Geo. Mr. Petersen is a Technical Advisor to the Companyand a Qualified Person as defined by National Instrument 43-101.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. (formerly Tri Origin ExplorationLtd.) is a Canadian gold exploration company focused on drilldiscovery on its Sky Lake and North Abitibi gold projects in theCanadian Shield. NewOrigin’s management and board have extensiveexperience in the delineation and development of gold deposits.Company shareholders include O3 Mining Inc. and Osisko Mining Inc.NewOrigin Gold trades on the TSX Venture Exchange under the ticker“NEWO”.
For Further Information Contact:
David Farquharson, President
Email: dfarquharson@neworigingold.com or visit www.neworigingold.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
CautionaryStatement regarding Forward Looking Statements:
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release. This News Release includes certain“forward-looking statements” which are not comprised of historicalfacts. Forward-looking statements include estimates and statementsthat describe the Company’s future plans, objectives or goals,including words to the effect that the Company or management expects astated condition or result to occur. Forward-looking statements may beidentified by such terms as “believes”, “anticipates”,“expects”, “estimates”, “may”, “could”, “would”,“will”, or “plan”. Since forward-looking statements are basedon assumptions and address future events and conditions, by their verynature they involve inherent risks and uncertainties. Although thesestatements are based on information currently available to theCompany, the Company provides no assurance that actual results willmeet management’s expectations. Risks, uncertainties and otherfactors involved with forward-looking information could cause actualevents, results, performance, prospects and opportunities to differmaterially from those expressed or implied by such forward-lookinginformation. Forward looking information in this news releaseincludes, but is not limited to, the intention to complete theforegoing, the Company’s objectives, goals or future plans,statements, exploration results, potential mineralization, theestimation of mineral resources, exploration and mine developmentplans, timing of the commencement of operations and estimates ofmarket conditions. Factors that could cause actual results to differmaterially from such forward-looking information include, but are notlimited to, the Company’s ability to obtain all approvals requiredin connection with the foregoing, the Company’s ability to predictor counteract potential impact of COVID-19 coronavirus on factorsrelevant to the Company’s business failure to identify mineralresources, failure to convert estimated mineral resources to reserves,the inability to complete a feasibility study which recommends aproduction decision, the preliminary nature of metallurgical testresults, delays in obtaining or failures to obtain requiredgovernmental, environmental or other project approvals, politicalrisks, inability to fulfill the duty to accommodate First Nations andother indigenous peoples, uncertainties relating to the availabilityand costs of financing needed in the future, changes in equitymarkets, inflation, changes in exchange rates, fluctuations incommodity prices, delays in the development of projects, capital andoperating costs varying significantly from estimates and the otherrisks involved in the mineral exploration and development industry,and those risks set out in the Company’s public documents filed onSEDAR. Although the Company believes that the assumptions and factorsused in preparing the forward-looking information in this news releaseare reasonable, undue reliance should not be placed on suchinformation, which only applies as of the date of this news release,and no assurance can be given that such events will occur in thedisclosed time frames or at all. The Company disclaims any intentionor obligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwise,other than as required by law.
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